T Rowe Price Gets a Hold Rating from Credit Suisse

By Ryan Adsit

In a report released yesterday, Craig Siegenthaler from Credit Suisse maintained a Hold rating on T Rowe Price (NASDAQ: TROW), with a price target of $135. The company’s shares closed yesterday at $111.

According to TipRanks.com, Siegenthaler is a 4-star analyst with an average return of 7.8% and a 65.6% success rate. Siegenthaler covers the Financial sector, focusing on stocks such as Janus Henderson Group plc, Raymond James Financial, and WisdomTree Investments.

Currently, the analyst consensus on T Rowe Price is Hold and the average price target is $119.20, representing a 7.4% upside.

In a report issued on April 10, KBW also reiterated a Hold rating on the stock with a $118 price target.

Based on T Rowe Price’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $1.33 billion and quarterly net profit of $443 million. In comparison, last year the company earned revenue of $1.16 billion and had a net profit of $377 million.

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T. Rowe Price Group, Inc. is a financial services holding company, which engages in the provision of investment management services through its subsidiaries.